We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 8 Mar 2010 02:19 PM

Font Size

- Aa +

RAK free zone posts growth amid global slowdown

Free zone sees 10% rise in company registrations, 11% increase in revenue.

Ras Al Khaimah Free Trade Zone continued to see growth in revenue and registrations during 2009 despite the impact of the global economic crisis.

The free zone saw an increase in new company registrations by 10 percent while revenue grew by 11 percent compared to figures for 2008.

"The progress we made in 2009 can be attributed to the fact that we knew the financial reality we were facing and strategised based on that reality. We drew and implemented action plans that saw us through the crisis," said Oussama El Omari, RAK FTZ CEO.

He added: "We needed to put our best efforts towards support in the local economy, by attracting new businesses and investment to the UAE, and this required us to be visible, both locally and internationally and strive to be the best in our product sector."

Of the total of 1,935 new company registrations in 2009, India led the way, with 37 percent of new arrivals, followed by the UK, with 12 percent.

In the Middle East, Egypt topped the list of new registrations, while 64 percent of total new registrations were operating in the warehousing facilities sector.

"We are committed to doing everything we can to contribute to the generation of new jobs, the growth of our economy and the preservation of our environment," El Omari added.

Ras Al Khaimah Free Trade Zone is one of the fastest growing free trade zones, with companies from 106 countries around the globe.

Arabian Business: why we're going behind a paywall

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Sen 10 years ago

RAKFTZ is undoubtedly a professionally run organisation . Onsite immigration facilities , proper port facilities and an active airport can boost the business 100 times - this will not only bosst the economy of RAK but provide lot of employment .Business actually operating from RAK have to depend on port facilities from other emirates at ahuge cost .